Total Cost of Tools given Total Production Cost Calculator

✖Total Production Cost is the total amount that it takes to produce a batch of components from scratch.ⓘ Total Production Cost [TPC]			+10% -10%
✖Total Machining And Operating Cost is the total amount of money required to machine a given batch of product.ⓘ Total Machining And Operating Cost [C_m]			+10% -10%
✖Total Tool Changing Cost is the total cost that arises due to the time taken by the operator in changing the Cutting Tool when he is paid by the hour.ⓘ Total Tool Changing Cost [TCC]			+10% -10%
✖Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.ⓘ Total Non Productive Cost [TNPC]			+10% -10%

✖Total Cost of Tools Used is the sum of the amount of all tools that have been used for production.ⓘ Total Cost of Tools given Total Production Cost [TTC]

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Formula

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Total Cost of Tools given Total Production Cost

Formula

`"TTC" = "TPC"-("C"_{"m"}+"TCC"+"TNPC")`

Example

`"1000"="1650"-("100"+"540"+"10")`

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Total Cost of Tools given Total Production Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost)
TTC = TPC-(C_m+TCC+TNPC)
This formula uses 5 Variables

Variables Used

Total Cost of Tools Used - Total Cost of Tools Used is the sum of the amount of all tools that have been used for production.
Total Production Cost - Total Production Cost is the total amount that it takes to produce a batch of components from scratch.
Total Machining And Operating Cost - Total Machining And Operating Cost is the total amount of money required to machine a given batch of product.
Total Tool Changing Cost - Total Tool Changing Cost is the total cost that arises due to the time taken by the operator in changing the Cutting Tool when he is paid by the hour.
Total Non Productive Cost - Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 1650 --> No Conversion Required
Total Machining And Operating Cost: 100 --> No Conversion Required
Total Tool Changing Cost: 540 --> No Conversion Required
Total Non Productive Cost: 10 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

TTC = TPC-(C_m+TCC+TNPC) --> 1650-(100+540+10)

Evaluating ... ...

TTC = 1000

STEP 3: Convert Result to Output's Unit

1000 --> No Conversion Required

FINAL ANSWER

1000 <-- Total Cost of Tools Used

(Calculation completed in 00.004 seconds)

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Credits

Created by Kumar Siddhant

Indian Institute of Information Technology, Design and Manufacturing (IIITDM), Jabalpur

Kumar Siddhant has created this Calculator and 400+ more calculators!

Verified by Parul Keshav

National Institute of Technology (NIT), Srinagar

Parul Keshav has verified this Calculator and 400+ more calculators!

< 21 Total Production Cost Calculators

Machining Time for Each Product using Total Production Cost

Go Machining Time = (Total Production Cost For Production Method-Cost of A Tool*Batch Size*Setup Time-Number of Tools Used*(Cost of A Tool*Time to Change One Tool+Cost of A Tool))/(Cost of A Tool*Batch Size)

Setup Time for Each Product given Total Production Cost

Go Setup Time = (Total Production Cost-Cost of A Tool*Batch Size*Machining Time-Number of Tools Used*(Cost of A Tool*Time to Change One Tool+Cost of A Tool))/(Cost of A Tool*Batch Size)

Tool Changing Time for Each Tool given Total Production Cost

Go Time to Change One Tool = (Total Production Cost-Batch Size*Cost of A Tool*(Setup Time+Machining Time)-Number of Tools Used*Cost of A Tool)/(Cost of A Tool*Number of Tools Used)

Non-Productive Cost of Each Component given Total Production Cost

Go Non Productive Cost of Each Component = Total Production Cost-(Batch Size*Cost of A Tool*Machining Time+Number of Tools Used*((Cost of A Tool*Time to Change One Tool)+Cost of A Tool))

Machining and Operating Rate given Total Production Cost

Go Machining and Operating Rate = (Total Production Cost-(Number of Tools Used*Cost of A Tool))/(Batch Size*(Setup Time+Machining Time)+(Number of Tools Used*Tool Changing Time))

Tool Changing Cost of Each Tool using Total Production Cost

Go Cost of changing each Tool = (Total Production Cost-Batch Size*Cost of A Tool*(Setup Time+Machining Time)-Number of Tools Used*Cost of A Tool)/(Number of Tools Used)

Total Production Cost

Go Total Production Cost = Batch Size*(Cost of A Tool*(Setup Time+Machining Time)+(Number of Tools Used)*((Cost of A Tool*Time to Change One Tool)+Cost of A Tool))

Number of Tools used given Total Production Cost

Go Number of Tools Used = (Total Production Cost-Batch Size*Cost of A Tool*(Setup Time+Machining Time))/(Cost of A Tool*Time to Change One Tool+Cost of A Tool)

Total Tool Changing Time given Total Production Cost

Go Total Tool Changing Time = (Total Production Cost-(Total Cost of Tools Used+Total Machining And Operating Cost+Total Non-Productive Cost))/(Number of Tools Used*Cost of A Tool)

Total Tool Changing Cost using Total Production Cost

Go Total Tool Changing Cost = Total Production Cost-Batch Size*Cost of A Tool*(Setup Time+Machining Time)-Number of Tools Used*Cost of A Tool

Total Non-Productive Time using Total Production Cost

Go Non Productive Time = (Total Production Cost for Setup Time-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of A Tool)

Total Machining Time using Total Production Cost

Go Total Machining Time = (Total Production Cost-(Total Non-Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of A Tool)

Total Non-Productive Cost given Total Production Cost

Go Total Non Productive Cost = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used)

Total Cost of Tools given Total Production Cost

Go Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost)

Total Tool-Changing Cost

Go Total Tool Changing Cost = Total Tool Changing Time*Number of Tools Used

Time for Changing one Tool given Total Tool Changing Time

Go Time to Change One Tool = Total Tool Changing Time/Number of Tools Used

Total Tool Changing Time

Go Total Tool Changing Time = Number of Tools Used*Time to Change One Tool

Total Production Cost for given Batch Size

Go Total Production Cost = Batch Size*Production Cost of Each Component

Batch Size given Total Production Cost

Go Batch Size = Total Production Cost/Production Cost of Each Component

Cost of Tool given Total Cost of Tools

Go Cost of A Tool = Total Cost of Tools Used/Number of Tools Used

Total Cost of Tools Used

Go Total Cost of Tools Used = Number of Tools Used*Cost of A Tool

Total Cost of Tools given Total Production Cost Formula

Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost)
TTC = TPC-(C_m+TCC+TNPC)

Significance of Total Cost of Tools Used

The Total Cost of Tools Used helps us in determining the maximum amount of tool that can be renewed during the production of a given batch of products. This renewing might include buying or resharpening the tool.
Thus if the number of Tools to be used gets bounded, the machining operation would have to be optimized in order to give sufficient tool life to survive against the boundation.

How to Calculate Total Cost of Tools given Total Production Cost?

Total Cost of Tools given Total Production Cost calculator uses Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost) to calculate the Total Cost of Tools Used, The Total Cost of Tools given Total Production Cost is a method to determine the total amount available to be spent on renewing Machining Tool for production of a batch of components. Total Cost of Tools Used is denoted by TTC symbol.

How to calculate Total Cost of Tools given Total Production Cost using this online calculator? To use this online calculator for Total Cost of Tools given Total Production Cost, enter Total Production Cost (TPC), Total Machining And Operating Cost (C_m), Total Tool Changing Cost (TCC) & Total Non Productive Cost (TNPC) and hit the calculate button. Here is how the Total Cost of Tools given Total Production Cost calculation can be explained with given input values -> 29350 = 1650-(100+540+10).

FAQ

What is Total Cost of Tools given Total Production Cost?

The Total Cost of Tools given Total Production Cost is a method to determine the total amount available to be spent on renewing Machining Tool for production of a batch of components and is represented as TTC = TPC-(C_m+TCC+TNPC) or Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost). Total Production Cost is the total amount that it takes to produce a batch of components from scratch, Total Machining And Operating Cost is the total amount of money required to machine a given batch of product, Total Tool Changing Cost is the total cost that arises due to the time taken by the operator in changing the Cutting Tool when he is paid by the hour & Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.

How to calculate Total Cost of Tools given Total Production Cost?

The Total Cost of Tools given Total Production Cost is a method to determine the total amount available to be spent on renewing Machining Tool for production of a batch of components is calculated using Total Cost of Tools Used = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Non Productive Cost). To calculate Total Cost of Tools given Total Production Cost, you need Total Production Cost (TPC), Total Machining And Operating Cost (C_m), Total Tool Changing Cost (TCC) & Total Non Productive Cost (TNPC). With our tool, you need to enter the respective value for Total Production Cost, Total Machining And Operating Cost, Total Tool Changing Cost & Total Non Productive Cost and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

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